Section 5: Related Areas of Project Management Flashcards
2 Other names for PMO
Project Headquarters
Project Office
What is a Program in the terms of Program Management?
Multiple related projects that receive benefit from being managed in relation to each other.
What are some benefits that you can achieve from orchestrating multiple related projects as part of a project?
Maximizing available time through coordinated scheduling
Being aware of necessary logistics and how you can accomplish many goals at the same time, instead of creating conflicts by not accounting for the logistics of a separate project
What is the relatively rare Program Management Certification from PMI?
PgMP
What is a portfolio in terms of project management?
A portfolio describes all the things we are ‘invested in’ including projects, programs, sometimes operations. Portfolios are about maximizing return on investment.
What is a portfolio manager?
A senior level executive who manages where a company invests time and resources.
Typically, project management offices are within _________.
Departments
What are the 6 goals of a PMO?
- Support Project Managers
- Manage Shared Resources
- Coaching, Mentoring and Training
- Conducting Project Audits
- Developing and managing processes and procedures
- Facilitating communication across all projects
What are three types of PMO?
Supportive
Controlling
Directive
What does a supporting PMO do?
Consults, trains, and creates templates
What does a controlling PMO do?
Enforces compliance through a framework, creates specific forms and templates, and provides governance
What does a directive PMO do?
directly manages the process as the PMO owns and controls the project lifecycle
What are three similarities between projects and operations?
- Both have employees
- Both typically have limited resources (people, money, or both)
- Both are designed, executed, and managed
What are three things that make a project different than an operation?
Projects are temporary.
Projects move, add, change or delete.
Project implement a new service or solution
What is operational transfer?
We’ve finished a project to create something and now we move it over to production or operations.
What are 6 examples of operations?
Procurement
Finance
Marketing
Sales
Core Business Functions
Maintenance
What do we do when we create an organization project management?
Make sure that projects are running the same ways so stakeholders know what to expect.
OPM3
Organization Project Management Maturity Model
What is organizational project management?
A way to coordinate, manage and control projects, program and portfolio management in a uniform, consistent effort.
Why are we doing projects?
How does it help our business value?
What are the four steps of OPM?
- Strategy - Goals and Tactics
- Portfolio - Value decisions - what should we invest in
- Programs & Projects - Results delivery - the project follow a consistent approach and create value
- Operations - Business value realization - end result
What are the three levels of the pyramid of projects and strategic planning?
- Executives - why? - vision, mission and goals
- Functional management - What? strategy and tactics
- Operations - How? - LOB, core functions
LOB
Lines of Business
Examples of project-based organizations
- IT Integrator
- Construction company
- Software development company
